https://www.taxtmi.com/caselaws?id=299613 A challenge to the Committee of Creditors' unanimous liquidation resolution failed where no pleaded or proved lack of knowledge, misrepresentation, or other legal infirmity was shown, and commercial decisions of the creditors were treated as decisive. After the CIRP period expired without any approved resolution plan, the Insolvency and Bankruptcy Code required liquidation of the corporate debtor; the moratorium ceased, a liquidator was to be appointed, and the liquidation framework applied. The application for liquidation was therefore allowed and the resolution professional was appointed as liquidator. en-us Mon, 06 Jan 2020 00:00:00 +0530 Wed, 22 Dec 2021 20:35:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299613 A challenge to the Committee of Creditors' unanimous liquidation resolution failed where no pleaded or proved lack of knowledge, misrepresentation, or other legal infirmity was shown, and commercial decisions of the creditors were treated as decisive. After the CIRP period expired without any approved resolution plan, the Insolvency and Bankruptcy Code required liquidation of the corporate debtor; the moratorium ceased, a liquidator was to be appointed, and the liquidation framework applied. The application for liquidation was therefore allowed and the resolution professional was appointed as liquidator. Case-Laws Insolvency and Bankruptcy Mon, 06 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299613